Telenor CEO appointed as new director of ICT R&D Fund Co.

telenorpakistanISLAMABAD (Staff Reporter): The Board of Directors of National Information and Communication Technologies Research and Development Fund Company on Monday unanimously appointed Michael Patrick Foley, Chief Executive Officer of Telenor Pakistan, as new director of board, against the vacant seat of cellular mobile industry’s representative.
This was decided in the 36th meeting of board held under the chair of Minister for Information Technology Anusha Rahman.
The minister stated that government is keen on the development of ICT sector and as part of MoIT holistic strategy a national incubation center is needed for nurturing entrepreneurship in ICT.
After the final draft of RFP is approved by the Board it will be published forthwith.

She further informed the Board regarding the announcement of special incentives by the federal government on setting up plants for “local manufacturing of mobile phone handsets” in the recent budget.

Punjab to offer 25000 tractors to farmers on subsidised rates
MULTAN (APP): The Punjab govt will offer 25,000 tractors to farmers at subsidized rates with an aim to promote agriculture sector in the province.
Assistant director information agriculture Naveed Asmat Kohloon said the government would privide subsidy of Rs5b on tractors.
He said the govt had earmarked Rs19b for uplift of agriculture development projects in budget 2015-16.
Kohloon said that Rs4.
58b would be spent on Punjab Irrigated Agriculture Productivity Improvement Project to resolve issues pertaining to water scarcity.
Similarly, for improvement in communication infrastructure in rural areas, Rs 150 billions would be spent in three years and the road projects would surely help improve agriculture sectors.

He claimed that marketing of agri products would also be focused so that farmers could achieve handsome return against their labour.

The assistant director agriculture also observed that agriculture sector was top priority of the government and it was utilizing all possible resources to promote modern ways of farming in the province.

NAVTTC launches trainings to enhance employability of youth
ISLAMABAD (APP): NAVTTC has launched a second phase of Prime Minister’s Youth Skill Development Programme with an objective to enhance employability of 25,000 youth.
This programme focuses to produce skill workforce to cater demands of local and international markets and to enhance their employability in light of directives by Prime Minister.
Sources at NAVTTC on Monday said 25,000 training slots have been allocated to all provinces and regions in the country in accordance with their respective population in highly demand-driven trades in important sectors such as construction, light engineering, IT & telecom, services (including women skills), health and agriculture.

The training has been started from June 1, 2015 and will continue till November 30, 2015.

The sources said present government is showing keen interest in empowerment of youth and launched different programmes for youth.
Out of these, Prime Minister’s Youth Skill Development Program is being implemented by NAVTTC at a cost of Rs 1,180 million.

Moreover, they said partner institutes are being selected through EOI/pre-qualification and stipend is being increased from Rs.
2,000-to Rs.
2,500 while for Federally Administered Tribal Areas (FATA) trainees, from Rs.
3,000-to Rs.

The sources said monitoring is also being carried out by NAVTTC and Monitoring Unit of Planning Commission whereas evaluation of this programme at its completion will be conducted by a third party.

NBP launches Islamic banking system in Khyber Agency
PESHAWAR (APP): The National Bank of Pakistan (NBP) has formally launched Islamic banking system at tehsil Jamrud of Khyber Agency.
In this connection, a function was held at NBP Jamrud branch that was attended besides others by Member National Assembly Shahgee Gul Afridi and Assistant Political Agent Jamrud Fahad Wazir.
On this occasion, the NBP Manager appraised the audience about aims and objectives of the Islamic banking system.
He said interest free banking facilities was now available for consumers and the bank administration would extend full cooperation to clients.
He said NBP Jamrud was the first bank of FATA that has started Islamic banking system on the request of local people.

On this occasion, a separate counter for pensioners at the bank was announced.

World oil prices rise

LONDON (AFP): Oil prices rose on Monday as dealers focused on crunch Greek debt talks and a possible return of Iranian supplies to the market.
US benchmark West Texas Intermediate for July delivery gained 56 cents to $60.
17 a barrel compared with Friday’s close.
Brent North Sea crude for August won 54 cents to $63.
55 a barrel around midday in London.
“Hopes that agreement could be reached in the debt dispute with Greece at today’s EU summit are lending buoyancy to oil prices as the new week begins,” said Commerzbank analyst Carsten Fritsch.
The heads of the 19 eurozone countries will hold an emergency summit in Brussels later Monday under pressure to prevent Greece from defaulting on its debt.

If the two sides are unable to agree to a deal, Greece will likely default on an IMF debt payment of around 1.
5 billion euros ($1.
7 billion) due on June 30, leading to the possibility of it crashing out of the eurozone.

Greek Prime Minister Alexis Tsipras on Sunday presented new proposals on reforming the country’s bailout to European leaders, raising hopes that a default can be averted after a five-month deadlock.

Iran was also in sharp focus for oil traders and Daniel Ang, investment analyst at Phillip Futures in Singapore, said negotiations between the crude producer and world powers over Tehran’s controversial nuclear programme are “going to give headwind for.
prices this week.

Six global powers — Britain, China, France, Germany, Russia and the United States — are trying to nail down a deal to curb Iran’s nuclear ambitions by reducing its stockpiles of enriched uranium and mothballing some of its sites.

If the agreement is reached by June 30 and implemented subsequently, the powers have agreed to gradually scale back sanctions imposed since 2012, including on its petroleum industry.

Iran has the world’s fourth-largest oil reserves but its exports have fallen from more than 2.
2 million barrels per day in 2011 to about 1.
3 million under the sanctions.

A return of disrupted Iranian supplies “could cause another round of oversupply” in a global market already flush with stockpiles, Ang said.